Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them | SEC No. 2013-86 |
5/9/2013
The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) have issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. More...
SEC v. Tomas Alberto Clarke Bethancourt , et al. | SEC No. 2013-84, Case No. 13 cv 3074, U.S. District Court for the Southern District of New York |
5/7/2013
The Securities and Exchange Commission has charged four individuals with ties to a New York City brokerage firm in a scheme involving millions of dollars in illicit bribes paid to a high-ranking Venezuelan finance official to secure the bond trading business of a state-owned Venezuelan bank. More...
In the Matter of Northern Lights Fund Trust and the Northern Lights Variable Trust | SEC No. 2013-78, File No. 3-15313, Release No. 30502 |
5/2/2013
The Securities and Exchange Commission has charged the gatekeepers of a pair of mutual fund trusts with causing untrue or misleading disclosures about the factors they considered when approving or renewing investment advisory contracts on behalf of shareholders. More...
SEC v. A Chicago Convention Center, LLC, et al. | No. 2013-70, Civil Action No. 13-cv-982, U.S. District Court for the Northern District of Chicago |
4/19/2013
The Securities and Exchange Commission has announced that investors in a fraudulent investment scheme that offered foreign investors a path to citizenship will get their money back promptly thanks to the SEC’s recent court action. More...
In re Merrill Lynch, Pierce, Fenner & Smith Incorporated | CRD No. 7691, No. 20080145847-01 |
4/16/2013
The Financial Industry Regulatory Authority (FINRA) has fined Merrill Lynch, Pierce, Fenner & Smith Inc. $1.05 million for failing to provide best execution in certain customer transactions involving non-convertible preferred securities executed on one of its proprietary order management systems (ML BondMarket), and for failing to have an adequate supervisory system and written supervisory procedures in place. More...
FINRA Department of Enforcement v. Success Trade Securities, Inc. | CRD Nos. 2404244 and 46027, Proceeding No.2012034211301 |
4/11/2013
The Financial Industry Regulatory Authority (FINRA) has filed a Temporary Cease-and-Desist Order (TCDO) to halt further fraudulent activities by Washington, D.C.-based Success Trade Securities, Inc. and its CEO & President, Fuad Ahmed, as well as the misuse of investors' funds and assets. More...
U.S. v. Amgen, et al. | DOJ No. 13-438, Civil Action No. 311cv1464-JFA, U.S. District Court for the District of South Carolina |
4/16/2013
Amgen Inc., a California-based biotechnology company, has agreed to pay the United States $24.9 million to settle allegations that it violated the False Claims Act, the Justice Department announced today. Amgen develops, manufactures, and sells pharmaceutical products, including products sold under the trade name Aranesp. More...
Time-Limited No-Action Relief for Swap Counterparties that are not Swap Dealers or Major Swap Participants | CFTC Release No. pr6563-13CFTC Letter No. 13-10 |
4/9/2013
The Division of Market Oversight (DMO) of the Commodity Futures Trading Commission (CFTC) has issued a no-action letter providing swap counterparties that are not swap dealers or major swap participants (“non-SD/MSP counterparties”), with certain relief from the reporting requirements of the CFTC’s swap data reporting rules, which are set forth at Parts 43, 45 and 46 of the CFTC’s regulations. More...
In re Jeffrey Brett Rubin, Respondent | CRD No. 2919082 |
3/7/2013
The Financial Industry Regulatory Authority (FINRA) has barred broker Jeffrey Rubin of Lighthouse Point, Florida, from the securities industry for making unsuitable recommendations to his customer, an NFL player, to invest in illiquid, high-risk securities issued in connection with a now-bankrupt casino in Alabama. More...
Securities and Exchange Commission v. Well Advantage Limited, et al. | SEC No. 2013-50, Case No. 1:12cv5786, US District Court for the Southern District of New York |
3/29/2013
The Securities and Exchange Commission has announced that a Chinese businessman and his wife whose trading accounts were frozen last year as part of a major insider trading case have agreed to settle charges that they loaded up on the securities of Nexen Inc. while in possession of nonpublic information about an impending announcement that the company was being acquired by China-based CNOOC Ltd. More...
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